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Benefit Increase for Retirees in Variable Account
If you remained in the variable annuity plan at retirement, you will see an increase in your benefit amount beginning in the February 1, 2004 retirement payment. The variable annuity portion of your benefit is adjusted annually based on the value of the variable portfolio on October 31.
If you retired…
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Amount of increase to the variable portion of your account
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Before January 1, 1978
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20.63 percent
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On or after January 1, 1978 but before June 1, 1992
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18.93 percent
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On or between June 1, 1992 and November 1, 2002
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17.83 percent
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After November 1, 2002
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Your change in benefit is based on the performance of the variable fund since your retirement date
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